Coronavirus is not the risk – but – it has increased the likelihood of risks that already existed in your organisation
I have been observing, particularly over the last week, a constant flow of articles on how organisations should prepare for a Coronavirus outbreak that impacts staff. There has been a lot of talk of Pandemic Plans and working remotely from home, with some organisations considering taking the drastic step of closing down entire operations. The […]
Optus’ Own Goal
“As crazy as this sounds, I don’t believe they realised how big the FIFA World Cup demand would be.” Technology commentator Trevor Long In 2015, Optus won the exclusive rights to broadcast the English Premier League through its streaming service. This was a shock to both Fox Sports and BeIn Sports who had put in […]
Risk Tip # 11 – linking control effectiveness measures to organisational outcomes
I have previously written in relation to the measurement of control effectiveness (Risk Tip #2- Control Effectiveness), but in this latest instalment of my Risk Tip series, I want to show why it is so important, not only in the management of risk, but also how it relates to the achievement of our organisational outcomes. […]
Risk Tip # 10 – Post Event Analysis
Risk Tip # 10 – Post Event Analysis “We learn from history that we do not learn from history.” Georg Wilhelm Friedrich Hegel No matter how well an organisation manages risk, there will still be occasions where incidents occur i.e. risks are realised. In organisations without a well-structured risk management program, these events will likely […]
Why Fraud Control Plans are Completely Unnecessary
One of the plans that I see almost universally in government organisations, as well as in many large private companies, is the Fraud Control Plan. It’s usually in place to highlight the organisation’s approach to preventing, detecting and responding to fraud. In my experience, however, these documents just become shelf ware until the next time […]
Risk Tip #12 – Risk Reporting
Over my career in risk management I have seen the most amazing array of reports submitted to Boards and Executives. I am sure you have seen them all as well. Charts such as those shown below proliferate risk reports: Now at glance they look ‘sexy’ but there is one simple problem […]
Shareholders before customers – nothing can go wrong
During the Banking Royal Commission, we have heard evidence of appalling behaviour by Australia’s major banks and financial planners from the past decade, including alleged bribery, forged documents, repeated failure to verify customers’ living expenses before lending them money, and selling insurance to people who can’t afford it. In one example, ANZ admitted at the royal commission that […]
Proportionality is the Key
I have discussed the importance of controls and their effectiveness to the risk management process in many forums including Risk Tip #2- Control Effectiveness. It is still my belief that the management of risk cannot be effective unless an organisation understands not only what controls are in place, but, more importantly, how effective they are. […]
The Incident Database – The Reverse Risk Register
Many organisations maintain an incident database to record the incidents that occur. What I have observed, however, is that the incident databases are not being used to their full effect in that there is no linkage to the risk register. This blog will describe why the linkage is so important and, how to get the […]
Colonel – we have a problem
In mid-February KFC announced that it was shutting the majority of its stores across the UK and Ireland due to, of all things, a chicken shortage that was caused by the introduction of a new delivery contractor, that had taken over from an established food distributor that had worked with the fried chicken brand for […]
